Azerbaijan, Baku /corr. Trend I.Khalilova / In order to review the projects implemented in Azerbaijan, the Islamic Development Bank (IDB) postponed the visit of the experts to Baku for one month, according to the Cabinet of Ministers. The mission had to come at the end of the last week, but did not take place due to religious holidays.
So far, the bank has financed only 4 projects on commercial terms with the total budget of $61mln. They are directed at the implementation of projects on the construction of Alat-Kazimahommad, Mingechevir power grids, Ujar-Yevlakh and Khachmaz sub-stations.
Currently a new 2007-2009 co-operation program being is discussed with the IDB. The program includes 10 projects with the total cist of $220mln.
The selected projects cover the road construction, energy, melioration, improvement of water supply of small cities and health.
The IDB's Previous terms have been maintained and the country can receive one privileged, two commercial credit and one or two grants. The projects meeting this category have been defined. The issue on privileged financing for the country is being decreased as compared to previous times, which is explained with the economic growth of Azerbaijan.
